Secondly, it is the further progress of the global free
trade system that is the basic driving force behind the Territo-
ry's economic development. Although the vitality of the Asia-
Pacific Region should constitute an important thrust in maintain-
ing the free trade system, GATT and APEC without doubt provide
the basic framework for such a system. Indeed, in light of the
fact that the sources of the economic vitality and dynamism in
the Region are dependent on the open free trade system, one of
the highest priorities for the Asia-Pacific Region must be the
successful early conclusion to the Uruguay Round of GATT talks;
and Japan has been doing its utmost to achieve this end.
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Furthermore, Japan has been actively involved in promoting
cooperation within the framework of the Asia Pacific Economic
Cooperation Conference, or APEC, which having been set
years ago, has started its activities as a powerful engine to
revitalize potentials with which the Region is endowed, in search
of stability and prosperity towards the twenty-first century, In
this regard, it is important to note that Hong Kong, already a
member of GATT, is expected to join APEC, along with Taiwan and
China, in November this year, and therefore it is expected to be
an active member in the maintenance of the international
trade system.
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